Why they call it the inflation act, as if it can cure inflation. Inflation is driven by aggregate demand and $740B of additional demand will add to inflation.
Bitcoiners are a polarizing group among broader Twitter, but it's actually a great set of people for the most part when you get to know the ecosystem and the various individuals, imo.
Disagreeable in aggregate, perhaps. But principled.
Meanwhile, I see this happening:
Bank of America has revealed that the number of its customers who are active #crypto users has declined more than 50% since its peak in November last year. #BOA#cryptocurrency#bitcoin $BTC https://t.co/4CfkHpaSCF
#FED#InterestRate#FOMC
Next FOMC meet is on July 26-27, 2022.
The Federal Reserve will deliver another 75-basis-point interest rate hike in July, followed by 50-basis-point hike in September as per Reuters' Poll of Economists.
Good thread on inflation. It seems that June CPI will be around May number +/- 0.1 or so (because it is mid-month to mid-month & commodities reversed only after June 8). Fed will do 75 in July and then we dive into recession direct. Inflation is collapsing as we tweet.